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What is Non-Resident Speculation Tax (NRST)

Real Estate in Canada is regulated provincially, so for any questions about investing in Ontario (Toronto, Markham, Richmond Hill, Mississauga, Halton, Oakville, Brampton, Hamilton, Niagara Falls, etc), please feel free to talk to us. There is no restriction on how much and what kind of property you can purchase in Ontario. We would love to assist you and your family to invest or settle down in Ontario with a new home, a cottage, or an investment property. If you have any questions about investing in Ontario, just fill in the Contact Us Form and we will get right back to you.

 

Overview

The Non‑Resident Speculation Tax (NRST) is a 15% tax on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe Region (GGH) by individuals who are not citizens or permanent residents of Canada or by foreign corporations (foreign entities) and taxable trustees.

 

Land Transfer Tax vs Non-Resident Speculation Tax

The NRST applies in addition to the general Land Transfer Tax (LTT) in Ontario.

 

Properties subject to Non-Resident Speculation Tax

The NRST applies to residential properties containing at least one, but not more than six, single family residence(s). Examples of single-family residences include fully detached homes, semi-detached homes, townhouses, condominiums and apartment units. Examples of residential properties containing more than one family residence include duplexes, triplexes, fourplexes, etc.

 

NRST is not applicable to rental apartment buildings that contain more than six units, commercial property, industrial property, or agricultural property. Agricultural land containing a single residence is deemed to be exclusively agricultural.

 

When a property includes a residential component combined with another land use type, the NRST is only applicable to the residential component of the property.

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